The international freight forwarding global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
International Freight Forwarding Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The international freight forwarding market size has grown strongly in recent years. It will grow from $104.99 billion in 2023 to $110.95 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to the rise in online shopping, economic development in emerging markets, increasing complexity in supply chains, investments in transportation infrastructure, and stringent trade regulations.
The international freight forwarding market size is expected to see strong growth in the next few years. It will grow to $139.18 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising consumer expectations for fast and reliable deliveries need for resilient and adaptable logistics solutions, growing urban populations, collaborations between logistics providers and technology firms, government policies, and economic incentives in various countries. Major trends in the forecast period include the integration of AI, IoT, and blockchain in logistics, innovations such as digital platforms, demand for automation, adoption of eco-friendly practices and alternative, implementing of sophisticated scanning and screening technologies.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rise of the e-commerce industry is expected to propel the growth of the international freight forwarding market going forward. The e-commerce industry refers to purchasing and selling products and services over the Internet, allowing businesses and customers to make transactions electronically without physical interaction. The e-commerce industry is growing due to convenience and accessibility, mobile commerce growth, logistics and delivery services, and internet penetration. International freight forwarding supports e-commerce by managing global shipping logistics, customs clearance, cost management, tracking, and regulatory compliance to ensure efficient and timely delivery of goods across borders. For instance, in November 2023, according to the International Trade Administration, a US-based Department of Commerce, as of January 2021, consumer eCommerce made up 36.3% of the total retail market in the UK, with revenue expected to reach $285.60 billion by 2025. Additionally, eCommerce revenues in the UK are projected to grow at an average annual rate of 12.6% by 2025. Therefore, the rise of the e-commerce industry is driving the growth of the international freight forwarding market.
Market Trends –
Major companies in the international freight forwarding market are developing streamlined digital workflows and advanced analytics solutions, such as enterprise resource planning (ERP) products, to enhance operational efficiency and streamline logistics processes. Enterprise resource planning (ERP) products are integrated software systems that centralize data and provide real-time insight into operations, allowing for better coordination, efficiency, and decision-making by streamlining procedures. For instance, in June 2022, DP World, a UAE-based logistics company, launched CARGOES Runner. It is a creative system designed to streamline the entire freight forwarding business, increasing efficiency and profitability per shipment. It provides a user-friendly dashboard that streamlines the quotation process by providing quick access to and control over bids. It offers key advantages, including digital invoicing, which eliminates paperwork and increases transaction efficiency. The platform encourages a digital-first strategy, which overcomes the constraints caused by antiquated legacy systems to greatly improve the customer experience and operational efficiency.
The international freight forwarding market covered in this report is segmented –
1) By Services: Freight Transportation, Warehousing And Distribution, Customs Brokerage, Freight Consolidation, Value-Added Services
2) By Mode Of Transportation: Ocean, Road, Air, Rail
3) By Customer: Business-To-Business (B2B), Business-To-Consumer (B2C)
4) By End-User: Manufacturing, E-Commerce And Retail, Automotive, Healthcare And Pharmaceuticals, Oil And Gas, Food And Beverage, Consumer Goods, Other End-Users
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Regional Insights –
Asia-Pacific was the largest region in the international freight forwarding market in 2023. The regions covered in the international freight forwarding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the international freight forwarding market are DHL Group, United Parcel Service of America Inc., FedEx Corporation, Kühne + Nagel International AG, DSV Panalpina A/S, Schenker Deutschland AG, Nippon Express Co. Ltd., GEODIS SA, DACHSER Group SE & Co. KG, CJ Logistics Corporation, Hellmann Worldwide Logistics SE & Co. KG, Kintetsu World Express Inc., Yusen Logistics Co. Ltd., Sankyu Inc., Agility Public Warehousing Company, Bolloré Logistics Netherlands B.V, Dimerco Express India Private Limited, Uber Freight LLC, CEVA Logistics India Private Limited, Sinotrans India Private Limited, Panalpina Welttransport Holding AG< /b>
Table of Contents
1. Executive Summary
2. International Freight Forwarding Market Report Structure
3. International Freight Forwarding Market Trends And Strategies
4. International Freight Forwarding Market – Macro Economic Scenario
5. International Freight Forwarding Market Size And Growth
…..
27. International Freight Forwarding Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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